P.M. BRIEFING : Bristol’s General Display Buyout Set
Bristol Research Corp. of Costa Mesa said today it signed a letter of intent to acquire General Display Corp., a manufacturer of electronic and environmental graphic displays.
Bristol said it will issue 4 million shares of its common stock to acquire General Display. The acquisition is subject to approval of the shareholders of Bristol.
Bristol and General Display also said that they entered into a letter of intent to begin a public offering of $6 million to $8 million of equity securities of Bristol.
Shareholders of Bristol agreed to contribute to Bristol at least 900,000 shares of common stock.
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